Confirming Tax Abatement - Turnmaster Corp. d/b/a South Bend Lathe Corp. 400 W. Sample St. (10 Year Real Property)

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RESOLUTION NO. -249w' 7 -9.3 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 400 WEST SAMPLE STREET, SOUTH BEND, INDIANA 46634 TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR TURNMASTER CORP. d /b /a SOUTH BEND LATHE CORP. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 40 West Sample Street, South Bend, Indiana 46634 and which is more particularly described as follows: Parcel No. 6 in the Inner Belt Industrial Park, a Subdivision in the Southeast and Southwest Quarters of Section Eleven (11) and the Northeast Quarter (� /a) of Section Fourteen (14), all in Township Thirty-seven (37) North, Range Two (2) East of the Second Principal Meridian, City of South Bend, Indiana, the Plat of which is recorded in the Office of the Recorder of St. Joseph County, Indiana, in Plat Book 21, page I, EXCEPTING therefrom the West 30 feet of the East 40 feet of vacated Prairie Avenue. Also, EXCEPTING therefrom a part of Parcel No. 6 Inner Belt Industrial Park described as follows, viz: Beginning at the Southwest corner of Parcel No. 6 Inner Belt Industrial Park; thence North zero degrees 10 minutes 32 seconds West 73.55 feet along Easterly line of Chapin Street; thence Northeasterly to the right on the arc of a curve 60.52 feet with a radius of 565 feet and limited to in length by a long chord of 60.49 feet along the East line of Chapin street; thence North 5 degrees 57 minutes 39 seconds East 52.92 feet along said East line of Chapin Street; thence South 61 degrees 39 minutes 41 seconds East 81.15 feet to the Southeasterly line of said Parcel No. 6; thence Southwesterly 167.68 feet along said Southeasterly line to place of beginning. with said real estate having the following Key No. 18- 8021- 084906, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council.